China: Vegetable Oils Market 2024

Vegetable Oils Market Size in China

The Chinese vegetable oils market rose notably to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a deep reduction. Vegetable oils consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in China

In value terms, vegetable oils production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Oils Exports

Exports from China

Vegetable oils exports from China expanded sharply to X tons in 2022, growing by X% against the previous year's figure. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, vegetable oils exports surged to $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for vegetable oils exports from China, with a X% share of total exports. Moreover, vegetable oils exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the UK (X,400.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for vegetable fats and oils exports from China, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the UK (X,980.0% per year).

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price, however, showed a pronounced reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Oils Imports

Imports into China

Vegetable oils imports into China skyrocketed to X tons in 2022, jumping by X% compared with the year before. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, vegetable oils imports surged to $X in 2022. Over the period under review, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) was the main supplier of vegetable oils to China, accounting for a X% share of total imports. Moreover, vegetable oils imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Singapore (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of vegetable fats and oils to China, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, declining by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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